| | | | | | | | Agenda Item - 2.a.
City of Garden Grove
INTER-DEPARTMENT MEMORANDUM
| To: | Scott C. Stiles
| From: | Omar Sandoval
| | Dept.: | General Manager
| Dept.: | General Counsel
| | Subject: | Adoption of a Resolution approving the Second Amendment to the Public Financing Authority Joint Powers Agreement. (Action Item) | Date: | 11/10/2020 |
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| | | | | | | | OBJECTIVE
For the Board of Directors to adopt the attached resolution amending the Public Financing Authority joint powers agreement to clarify the membership of the Board and remove the Successor Agency as a member. |
| | | | | | | | BACKGROUND
The Garden Grove Public Financing Authority was established June 22, 1993 between the City of Garden Grove and the Garden Grove Agency for Community Development (former RDA). In 2006, the joint powers agreement was amended to add the Garden Grove Sanitary District. Initially, the agreement stipulated that the number of board members is equal the number of elected City Council Members, which at the time were five. The members of the City Council serve as the Board of Directors of the Authority. With the increased number of City Council Members due to the transition to district elections in 2016, the number of Board members was recently recognized by the PFA to be seven. |
| | | | | | | | DISCUSSION
The attached Resolution approves a second amendment to the joint powers agreement to clarify that the Board of Directors of the Garden Grove Public Financing Authority is equal to the members of the City Council. Furthermore, because the Successor Agency is in the process of dissolving the former RDA, the amendment removes the Successor Agency as a member of the joint powers agreement. |
| | | | | | | | RECOMMENDATION
It is recommended that the Board:
- Adopt the attached Resolution approving the Second Amendment to the Public Financing Authority joint powers agreement.
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| ATTACHMENTS: | | Description | Upload Date | Type | File Name | | Resolution | 11/3/2020 | Resolution | 11-10-20_Sanitary_District_Resolution_Garden_Grove_PFA_Amendment_4852-8627-1184_1_Rev.pdf | | Attachment A - Second Amendment | 11/3/2020 | Agreement | Amendment_No._2_to_JPA_Agreement_Garden_Grove_Public_Financing_Authority_4843-4281-4416_1_Rev.docx |
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